Alvotech vs Amphastar Pharmaceuticals
Amphastar Pharmaceuticals is the larger business, with $720m of revenue in fiscal 2025 against $586m for Alvotech (1.2 times as much). Alvotech grew faster (19.7% against -1.7%). Amphastar Pharmaceuticals kept more of each dollar of sales as profit: a net margin of 13.6% against 4.8%.
| Latest fiscal year | AlvotechALVO, 2025 | Amphastar PharmaceuticalsAMPH, 2025 |
|---|---|---|
| Revenue | $586m | $720m |
| Revenue growth | 19.7% | -1.7% |
| Net income | $27.9m | $98.1m |
| Operating margin | 13.3% | 19.5% |
| Net margin | 4.8% | 13.6% |
| Return on equity | — | 12.9% |
| Free cash flow | −$115m | $121m |
| Cash | $172m | $170m |
| Total debt | $1.30bn | $621m |
| Debt to equity | — | 78.8% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | $75.6m |
| Employees | — | 1,976 |
| Market value | $1.42bn | $1.15bn |
| Price vs our value range | — | Below our value range |
| Moat score | — | 59 (Moderate) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 11 sales |